By Rashid Shirinov
The volume of proposals in the Baku land market increased by 19.4 percent in two years, that is from February 2015 to February 2017, according to a report by the Real Estate Market Participants Public Association.
The report shows that the number of offers in the land market increased by 437 for two years.
In February 2017, most of the offers fell to the share of Baku’s Sabunchu (29.7 percent) and Khazar (28.2) districts. They are followed by Surakhani (15.9 percent) and Binagadi (12.6) districts. The offers on these areas of Baku propose mostly private houses and cottages.
The least offers fell to the share of Narimanov, Yasamal, Pirallahi and Nasimi districts of the capital city.
The monitoring shows that despite a sufficient number of offers in Pirallahi and Garadagh districts, the demand in these areas is quite low.
As for the areas of the offered land plots, the number of small area land plots account for bulk of the proposed plots, while those of medium size make 28.8 percent. The proportion of land plots with large area is very low – just 0.4 pecent.
Most experts say that purchase of land plots may be considered as the best object of long-term investments, while apartments in buildings under construction is appropriate for short-term investments.
Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov
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